Canadian Imperial Bank of Commerce (NYSE: CM) (TSE: CM) hit a new 52-week high during mid-day trading on Monday after CIBC set its share price target of $ 124.00 to $ 126.00 USD had risen. CIBC currently has a sector perform rating on the stock. The Canadian Imperial Bank of Commerce traded at $ 91.36 and was last trading at $ 91.15 with a volume of 968 shares. The stock previously closed at $ 90.96.
Other analysts recently released research reports on the company. Barclays raised its target price for the Canadian Imperial Bank of Commerce from USD 124.00 to USD 128.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 16. Zacks Investment Research upgraded the shares of the Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and issued a research note on Friday, February 5th with a price target of $ 98.00 for the company set. Credit Suisse Group raised its price target for shares in the Canadian Imperial Bank of Commerce from USD 105.00 to USD 108.00 and rated the shares as “underperform” in a research note on Friday, December 4th. On Friday, December 4th, Canaccord Genuity reassigned a buy rating to shares of the Canadian Imperial Bank of Commerce in a research report. Finally, BMO Capital Markets launched a report on the Canadian Imperial Bank of Commerce in a research report on Friday, December 4th. They posted a “market perform” rating on the stock. A research analyst has rated the stock with a sell rating, five with a hold rating and seven with a buy rating. The company has an average rating of “Hold” and an average target price of $ 107.58.
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Several hedge funds have recently added or reduced their stakes in the company. Advisory Alpha LLC acquired a new stake in the Canadian Imperial Bank of Commerce worth $ 38,000 in the third quarter. International Assets Investment Management LLC acquired a new position in shares of the Canadian Imperial Bank of Commerce valued at approximately $ 38,000 in the fourth quarter. Reby Advisors LLC took a new position in shares of the Canadian Imperial Bank of Commerce valued at approximately $ 41,000 during the fourth quarter. McIlrath & Eck LLC bought a new position in shares of the Canadian Imperial Bank of Commerce valued at approximately $ 44,000 in the third quarter. Ultimately, Mirova acquired a new stake in the Canadian Imperial Bank of Commerce worth approximately $ 49,000 in the third quarter. Hedge funds and other institutional investors own 42.62% of the company’s shares.
The company has a market cap of $ 40.92 billion, a PE ratio of 14.94, a P / E / G ratio of 1.97, and a beta of 1.12. The company’s fifty day simple moving average is $ 87.91 and the two hundred day simple moving average is $ 81.48. The company has a quick rate of 1.04, current rate of 1.04, and leverage ratio of 0.15.
The Canadian Imperial Bank of Commerce (NYSE: CM) (TSE: CM) last released its quarterly results on Wednesday, December 2nd. The bank reported earnings per share for the quarter of $ 2.79, beating Zacks’ consensus estimate of $ 1.89 by $ 0.90. The Canadian Imperial Bank of Commerce achieved a return on equity of 12.03% and a net margin of 15.06%. The company had revenue of $ 4.60 billion for the quarter, compared to analyst expectations of $ 4.69 billion. For the same period last year, the company posted earnings of $ 2.84 per share. Analysts assume that the Canadian Imperial Bank of Commerce will achieve earnings per share of 8.11 in the current fiscal year.
The company recently announced a quarterly dividend, which was paid on Thursday, January 28th. A dividend of $ 1.096 was paid to shareholders of record on Tuesday, December 29th. This equates to an annualized dividend of $ 4.38 and a dividend yield of 4.79%. The ex-dividend day was Monday, December 28th. The Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 62.27%.
Via the Canadian Imperial Bank of Commerce (NYSE: CM)
Canadian Imperial Bank of Commerce, a diversified financial institution, offers a variety of financial products and services to retail, business, public, and institutional clients in Canada, the United States, and internationally. The company operates in four strategic businesses: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; US
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7 hotel stocks just waiting for the vaccine
Like any group of stocks related to travel and tourism, hotel stocks saw a sharp drop in share prices in 2020. The leisure and hospitality sector, which once employed 15 million people, has lost 4 million jobs since February.
Many large cities will feel the effects of the Covid-19 pandemic for years. However, there is ample evidence that the pandemic may be coming to an end. The number of new cases is falling. The number of vaccinators is increasing. And even in the cities with the most restrictive mitigation measures, the slow process of reopening begins.
All of this cannot come fast enough for people who rely on the travel and tourism industries for a living. Hotel chains had at least some revenue in the door. And when the winning season ends, the more budget-friendly hotel chains can see revenue that is 75% of the 2019 numbers. However, this is not enough to make the hotels almost full. Especially in hotels with bars and restaurants that are closed or have stayed open with limited capacity.
Many economists are optimistic that traveling could look more normal from this summer onwards. And the world economy could achieve 6.4% GDP growth this year. With that in mind, the hotel chains with the best fundamentals and the broadest footprint will be in the best position to reopen the economy.
Check out the “7 Hotel Stocks Just Waiting For The Vaccine”.